MEDIA REVIEWS - March 8-15, 2010

Some of the articles that were given high relevance ratings got there because of an important tidbit of information, like the purchase of the FNIC/Multi-Financial and PrimeVest by people with extensive brokerage experience, or the fact that ETFs are having trouble gaining traction in the 401(k) world because they're hamstrung by not having 12(b)-1 fees to pay out to the sponsors and sales agents.

Others, however, have real substance. The strength of Investment Advisor magazine is its practice management content; in this issue, Dan Inveen and Eliza DePardo say, politely, that the average advisory firm hires before it thinks, and the result can be an organizational mess. Mark Tibergien talks through some of the problems with transition planning from the founder to younger staff advisors; what makes his column unusual is that, in addition to all the normal dysfunctions we hear about the founders, he places some of the onus on the younger advisors and identifies a few of THEIR dysfunctions. Angie Herbers, meanwhile, says that some advisory firms have become so bureaucratized that it's easy for a smaller, more entrepreneurial firm to hire some of their young talent away--but take Inveen and DePardo's advice and think through what you're looking for before you seize this opportunity.

Finally, for all card-carrying members of the Tea Party, John Guy, one of the more outspoken advisors in the business, says that it's time for the protesters to come up with concrete solutions to the very complex problems surrounding our national debt. What should we cut, how much and who is going to get less than they anticipated or expect? The party that comes up with those answers, and makes them sound reasonable, and shares the pain fairly, is the organization that I want to join.